Lundbeck Acquires LBPH Amid Three-Way Bidding War, DRUG Stock Declines Despite Melt-Up

Lundbeck's acquisition of LBPH has sparked significant interest in the biotech sector. Multiple bidders were involved in a three-way bidding war for LBPH, which led to a melt-up in the stock price of DRUG. Despite the acquisition news, DRUG's stock experienced a decline this morning. Some investors acquired shares of DRUG around the $43 area.